Which of the following financial statements is required for a full set of US GAAP financial statements Which of the following financial statements is required for a full set of US GAAP financial state

Revenue recognition core principle under ASC 606: Revenue recognition core principle under ASC 606: A. Recognize revenue when cash is received B. Recognize revenue when performance obligation is satis

A change in accounting estimate is accounted for A change in accounting estimate is accounted for: A. Retrospectively, restate prior year financial statements B. Prospectively in current and future pe

Lease accounting under ASC 842: lessee recognizes right-of-use asset and lease liability for Lease accounting under ASC 842: lessee recognizes right-of-use asset and lease liability for: A. All leases

Which of the following is a component of other comprehensive income Which of the following is a component of other comprehensive income (OCI)? A. Gain on sale of equipment B. Unrealized gain on availa

Goodwill arising from a business combination under US GAAP is: Goodwill arising from a business combination under US GAAP is: A. Amortized over 10 years B. Tested annually for impairment C. Expensed i

A company issues bonds at a discount. The bond discount is A company issues bonds at a discount. The bond discount is: A. Added to bonds payable on balance sheet B. Amortized as additional interest ex

Under US GAAP, inventory is measured at Under US GAAP, inventory is measured at: A. Historical cost only B. Lower of cost or net realizable value C. Fair value always D. Replacement cost Answer: B Exp

Which of the following is a multi-select question Which of the following is a multi-select question (choose two answers):Which of the following affect the auditor’s determination of materiality?

For an integrated audit of an issuer under PCAOB standards, the auditor must: For an integrated audit of an issuer under PCAOB standards, the auditor must: A. Audit financial statements and audit inte

Which of the following is a substantive procedure Which of the following is a substantive procedure? A. Inquiry of management about control policies B. Reconciliation of bank accounts C. Inspection of

The auditor’s responsibility for detecting fraud is to The auditor’s responsibility for detecting fraud is to: A. Guarantee no fraud exists. B. Design audit procedures to detect material m

Which of the following threats to independence arises when an audit team member Which of the following threats to independence arises when an audit team member owns stock in the audit client? A. Self-

A predecessor auditor’s workpapers may be reviewed by the successor auditor A predecessor auditor’s workpapers may be reviewed by the successor auditor: A. Automatically, without client pe

Which of the following is a test of controls? Which of the following is a test of controls? A. Vouching recorded sales to shipping documents B. Observing the client’s inventory count C. Inspecti

An auditor finds a misstatement that is trivial individually but material An auditor finds a misstatement that is trivial individually but material when aggregated with other misstatements. This misst

Which of the following is required to be included in the auditor’s report for a non-issuer Which of the following is required to be included in the auditor’s report for a non-issuer? A. Ke

Which of the following documents would an auditor use to confirm accounts receivable Which of the following documents would an auditor use to confirm accounts receivable? A. Customer purchase order B.

When performing analytical procedures in the planning phase, the main purpose is to When performing analytical procedures in the planning phase, the main purpose is to: A. Substantiate account balance

Which party is primarily responsible for the design and implementation of internal control Which party is primarily responsible for the design and implementation of internal control? A. External audit

In an audit of a non-issuer, the auditor may issue a qualified opinion for In an audit of a non-issuer, the auditor may issue a qualified opinion for: A. Inability to obtain sufficient appropriate aud

Which of the following is a limitation of internal control Which of the following is a limitation of internal control? A. Segregation of duties B. Management override C. Independent reconciliations D.

An auditor’s primary objective for obtaining an understanding of internal control is to An auditor’s primary objective for obtaining an understanding of internal control is to: A. Detect a

2026 ACCA Exam Registration Schedule for Taiwan, China ACCA exams are offered in two formats: On-Demand CBE and Session CBE. On-Demand subjects (BT, MA, FA, LW) are available year-round — candid

2026 Macau ACCA Exam Registration Schedule ACCA exams are offered in two formats: On-Demand CBE and Session CBE. On-Demand subjects (BT, MA, FA, LW) are available year-round — candidates can con